Finance Commission likely to reject $12 billion package to help utilities cut pollution: source


Finance Commission likely to reject $12 billion package to help utilities cut pollution: source

India’s Finance Commission has told the power ministry that its proposal to award utilities 835 billion rupees ($11.6 billion) in incentives to install equipment to curb emissions is “unviable,” a senior official at the ministry told Reuters on Tuesday.

The ministry submitted its proposal to the Finance Commission, which reviews government spending, in February. The proposal was intended to help plants comply with new sulphur dioxide emissions standards originally set by the environment ministry in 2015.

The standards mandate installation of pollution cutting equipment. Some plants must comply by the end of this year, while others have up to the end of 2022 to do so.

More than half of India’s coal-fired power plant units ordered to retrofit equipment to curb air pollution are already set to miss the deadline, Reuters reported on Friday. Read More

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